Bally Technologies Earnings: Here’s Why Shares are Up Now

Bally Technologies, Inc. (NYSE:BYI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.55%.

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Bally Technologies, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 38.81% to $0.93 in the quarter versus EPS of $0.67 in the year-earlier quarter.

Revenue: Rose 13.37% to $259.1 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Bally Technologies, Inc. reported adjusted EPS income of $0.93 per share. By that measure, the company beat the mean analyst estimate of $0.85. It beat the average revenue estimate of $245.97 million.

Quoting Management: “We are extremely pleased with the terms of our amended credit facility and with the additional capital raised,” said the Company’s Chief Financial Officer Neil Davidson. “Our increased revolver capacity and modest leverage provide Bally with ample liquidity to fund additional share repurchases and potential acquisitions, as well as make further investments in our business. After funding the accelerated share buyback, we will have undrawn revolver capacity of approximately $435 million.”

Key Stats (on next page)…

Revenue increased 8.71% from $238.34 million in the previous quarter. EPS increased 16.25% from $0.80 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.89 to a profit $0.92. For the current year, the average estimate has moved up from a profit of $3.26 to a profit of $3.33 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)